China expected to raise foreign C2 share ceiling

26 March 2001 00:00  [Source: ACN]

China is expected in the near future to raise the ceiling for foreign shareholding in Sino-foreign ethylene projects. The current stringent criteria for approving these projects will also be eased so that approvals will be more easily obtained.

Ethylene projects costing more than US$50m will have to still seek approval from government bodies including the State Development and Planning Commission and the Ministry of Foreign Trade and Economic Co-operation because of the complexity of such largescale projects.

The Chinese government is also studying raising the shareholding ceiling for foreign companies which want to invest in cracker projects. Currently, Chinese partners must at least hold a 50% stake in joint-venture ethylene projects of at least 600 000 tonne/year ethylene capacity.

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